I just used that as an example as to how wide the interpretation of "modern/contemporary fantasy" can go in peoples' minds. In terms of what we're talking about here, that's tenuous at best.

Then there's the idea of what comprises fantasy. On the one hand, we have that tabletop Shadowrun universe that's the poster child for post-modern urban fantasy. Then you have something like Earthbound which doesn't have dwarves and elves in its modern setting, but it has zany and outlandish stuff that could only occur in imagination, so it's definitely "modern fantasy" by this thread's terms.

Sci-fi could be defined as a form of fantasy. Something like Shin Megami Tensei weaves supernatural elements into modern/contemporary settings, so to me that's modern fantasy, perhaps urban fantasy. It's interesting how Persona and Earthbound take place in very similar settings, yet are such totally different animals.

Shin Megami Tensei can *generally* be described as post-apocalyptic cyberpunk.

I was referring to Megami Tensei as a whole, not just the flagship. Sorry about that. Yes, the flagship Shin Megami Tensei games are definitely post-apocalyptic with cyberpunk elements (i.e. in SMT II.) I see Soul Hackers as more proverbial cyberpunk ("tech" cyberpunk.)

Persona is more contemporary modern/urban fantasy (though P4 takes place in the inaka- rural countryside.)

Devil Summoner is defintiely alternate history. The Raidou Kuzunoha games are alternate history with specific period settings. Whereas, Devil Summoner and Devil Summoner 2: Soul Hackers are what-if scenarios had the ICBMs in SMT1 been stopped and President Thorman killed.

Oh yeah, I played the demo to this RPGM games a while back and really liked the setting. I think this may be in line with the original poster's FF8 template. http://rpgmaker.net/games/736/ The short demo alone kicks the collective asses of many commercial RPGM games out now, that's for sure.